Topic: [Ultracoin] [Est. Feb 2014] ~ ASIC Resistant & Ultrafast 6 Second Transactions! - page 85. (Read 381003 times)

Return of rapture333 (Steven)


Steven and I are now working closely together to move to the next stages of Ultracoin development.

Its going to be a little more exciting from now on.

Steven will post shortly

Basically - I will follow PressTab through to delivery of the tidied up code, retarget fix and liteStake code - Steven will take it from there but I will be around to assist wherever needed.

Steven will manage the fork etc with PressTab.

Steven will update the ANN, and Ultracoin website - and engage the social media channels.

I will let him talk about the other developments and marketing activities.

WELCOME BACK Steven

This is the dawn of a new era for ULTRACOIN


Cheers usukan

Thanks Beave and Thiago

Here are my thoughts on NF and block reward.

Everyone please discuss, agree or disagree.  Silence as always will be taken as agreement.

First - we have only just (Nov/Dec 2015) changed both these based on extended discussions from what was a much larger community base.  Although everyone did not agree 100% - overall this was the group consensus.

 - Lower the block reward from 30 to 10 UTC
 - Reduce NF from 16 to 14


On the NF

UTC was getting raped by botnets at NF16 - it had to be changed and quick.

Alenevaa made a useful post 11 Nov 2015.

Your miners need to use 4 times less memory at NF14 than they have used at NF16.

If roughly estimate [CPU] vs [GPU with 4GB VRAM]

Code:
NFactor | GPU advantage
-----------------------
NF17   | 1x  gpu has no advantage
NF16   | 2x
..
NF14   | 10x gpu 10 times faster

then we can clearly see that Ultracoin NF14 becomes GPU-coin.

From one side (negative) - it has no sense to mine Ultracoin with CPU now
From other side (positive) - Ultracoin will be more secure as GPU-miners stands well against botnets.

also
Quote from: lpedretti on October 27, 2015, 02:50:49 PM
Awesome!
Right in time for me to add another gpu to my rig Smiley
NF14 rocks. the best balance between mem usage and gpu stress



On the block reward - the current plan can be summarised:

Change notes:

Change to 10 UTC per block pending new update
10 UTC per block - 4,000,000
5 UTC per block - 6,000,000
2.5 UTC per block - 8,000,000
1.25 UTC per block - 20,000,000
1 UTC per block - 25,000,000
.5 UTC per block - 30,000,000
.25 UTC per block - 40,000,000
.125 UTC per block - 50,000,000
.01 UTC per block - 208,145,600

Change to 2% pending new update
1.5% per year at block 4,000,000
1% per year at block 8,000,000

GitHub Diff:

https://github.com/Kracko/ultracoin-2/compare/6135192516147ae7d478fd850b085165289558a1...Kracko:master

So it changes to a reward of 5 UTC from block 4,000,000
But in this post
https://bitcointalksearch.org/topic/m.12811221
lpedretti suggests that its not coded to change yet - but there is plenty of time before we hit block 4,000,000


My conclusions:

Block Reward

Maintain at 10 UTC for now.
We have just reduced it from 30.
We have few miners and to be quite honest we do not want to further discourage mining.
We only have 6-7 miners on Alenevaa's pool and maybe a solo miner or two.
Any less miners at this point is suicide.
When the price goes up (yes I believe it can only go up from here - barring a few dumps) - these miners who held UTC together in our darkest hour - need to be rewarded.
Sure if the price of UTC goes up substantially in the future - we can change (reduce) it before block 4,000,000.
But not now.
If we reduce it - in the thinking that will make the price go up (which we almost certainly know does not happen) and our miners leave - UTC is dead.
Leave block reward at 10 UTC


NF 14

Leave it at NF14
I have only seen positive feedback on NF14 over other NF's discussed
We avoid botnets which almost killed UTC
I am not a miner - so can offer no other wisdom here
lpedretti's comment is stuck in my mind "NF14 rocks. the best balance between mem usage and gpu stress"

Community - Please discuss.







Thanks - usukan

The Ultracoin team should  change how many coins for block 10 still to many 5 help the inflation

If any changes are to be made, now would be the time.

I wasn't trying to impose my views or anything. I was just genuinely curious if that was something being considered in the midst of all the other developments and changes.

This is a discussion for the miners to start and fill us in on really.

Could I just ask, as a novice here - what would it mean to change the N Factor? What should it be, and what would we change it to...and of course, what would be most advantageous, and why?

Cheers,

Roister01

Hi Beave162

No plans unless the community agrees there are good reasons to change.

What are your thoughts on this?

Please discuss.

Thanks - usukan

Any plans to adjust the NFactor?

PressTab is on the job.

All is sorted - he has started work already today.


I have some other important engagements today - but will get back later with some more detail.

Cheers - usukan

UPDATE

PressTab has been paid 1.20279 BTC
https://blockchain.info/tx/1090dafd1a1daf4a2ccf42e94524de0b2839ec0556713d5670736da9c5257d2b
This is payment for Stage 1

From the UTC Dev Account
https://blockchain.info/address/1LpFmfieMBH63ivFA1Us5ju1jnH9CSccKZ

He has already started reviewing the code (Stage 2) since he decided that fixing up the code first was by far the best idea - rather than starting on the re-targeting fix (Stage 1) and applying it to the current messy UTC code.
He reports significant code that is a resource hog and fixing this will lead him more easily into the re-targeting fixes and associated code changes.
In UTC's case - this is a far more efficient approach to the work.
Essentially he will be working on both Stage 1 & Stage 2 next week.

There is a chance he will have both Stage 1 & Stage 2 finished by late next week (or shortly after) and he is happy that we pay him next week for Stage 2 - or sooner if we have the available funds - even though his terms are full payment upfront.

So by the end of next week we will likely be ready to consider a hardfork date.

At this point we can apply the liteStake code if we have available funds.


I have been truly impressed by the support and trust the Community has bestowed both me and UTC in this work.

All I can say is THANK YOU

We are now in the capable hands of PressTab - I believe this will turn out very good for UTC.



And if we hit any obstacles






Let the fun begin!


Cheers - usukan

Excellent - thank you Sir.

Things are really humming now.

Cheers - usukan

Count me in Usukan great Job! 0,312BTC will be transferred

Thanks everyone for your strong and prompt support on this project.

Current contributions are from the following:

wtfc360
PaulR1
Valpe
Roister01
usukan

The UTC Dev Fund holds 1.95319198 BTC
https://blockchain.info/address/1LpFmfieMBH63ivFA1Us5ju1jnH9CSccKZ


Just confirming final details now with PressTab on exactly how we want to proceed and payments.

I will hopefully report back later today - with payment details for Stage 1 (Diff re-target fix) and confirm that PressTab is "on the job".

Note we have 1.26 BTC approx to go - to raise the full funds for all 3 stages.

If anyone else in the Community wishes to support this work - we are very happy to hear from you now.

Any contributions large or small will be gratefully received and put to good use with PressTab.

We need to reach at least 2.4 BTC Total in a weeks time (an additional 0.45 approx.) to move on to Stage 2 (Tidy up the Ultracoin code).

GREAT WORK EVERYONE 


Cheers - usukan

Cheers Roister - all confirmed.

Hi Usukan...

My 0.312 should be on its way now...
Thanks again for all your hard work...

Cheers,
Roister...😃

Cheers - confirmed

great service you use there

Cheers - confirmed

Just send it !